Most Recent Articles In Business
Latest Business Articles
- Sephora to Launch Online China Flagship With JD.com
- Macerich Profits Rise 38%
- MAGIC Men’s Being Reimagined
More Articles By
NEW YORK — Advanstar Global LLC has signed a definitive agreement to acquire ENK International LLC, its chief competitor in the U.S. trade show arena, from investment group Forstmann Little & Co. Terms of the transaction were not disclosed.
Advanstar Global, owner of Advanstar Communications, operates the Magic, Project and FN Platform shows, and will add ENK’s roster of seasonal trade show events, including Fashion Coterie, ENK Vegas, ENK NYC, Accessorie Circuit, Intermezzo Collections, Children’s Club, ENK WSA, Sole Commerce and TMRW.
“Having ENK, Magic and Project within the same family of companies provides the fashion industry a choice of intimate and customized environments that satisfy their market needs. This allows us to be more responsive to our customers as we work to coordinate dates and venues, which makes the process more valuable for exhibitors and retailers,” said Joe Loggia, chief executive officer of Advanstar Global.
ENK and Advanstar Communications will operate separately under the Advanstar Global umbrella, said the company. However, ENK customers will gain access to Advanstar’s new Shop the Floor digital trade show platform, set to launch in early 2013.
“Advanstar Global has made significant investments in new technology that will enable our company to further drive value, service and solutions across the entire fashion marketplace,” said Loggia.
The deal concentrates the industry’s biggest apparel and footwear trade shows under one corporate roof, which could reduce competition in the marketplace. Competing trade shows include Capsule, MRket, Agenda and Designers & Agents.
Financial sponsors of Advanstar Global include Anchorage Capital Group LLC, Ares Management LLC and Veronis Suhler Stevenson.